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EU - UK - £ sterling recovers slightly to €/£ 1.08 after 8 year dip to €/£ 1.07
Since the vote to leave the EU, we've seen a gradual decline in the value of Sterling up until now, with the pressure really starting to pile on now the real negotiations between the UK and the EU have started.

We recently saw proposal papers released from the UK government which outline their proposals for the upcoming Brexit deal, but these are by no means agreed terms and are literally at this point 'a proposal' and give no clarification as to what whether they will be agreed to by the EU when it comes to the finalisation of the deal.

With the next round of Brexit negotiations approaching fast it will be interesting to see what sort of scrutiny the UK's paper proposals will come under. It will be sure to give us an insight as to how hard the EU are looking at fighting to secure a deal that is their way and their way only.

This week we have a mixed bag of economic data to keep an eye on which could have an effect across the board, but we can expect any political headlines to take the spotlight and be the market mover this week.

One other thing to look out for over the coming weeks are hints from Draghi and the ECB that they will start to taper their QE programme. This is seeming quite likely and could have another negative effect on Sterling in the short term, potentially knocking it down to further lows. IB Rates at time of writing:
GBPvEUR: 1.0747
GBPvUSD: 1.2965
GBPvAUD: 1.6277
GBPvCAD: 1.6133
GBPvZAR: 16.9341
To be kept up to date with any specific rates / currencies or developments coming up, feel free to drop me an email letting me know your requirements and I'll keep you updated accordingly.

Source: Excel Lloyd Barnet - Excel Currencies .

Aug 2017

 

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